Guideline Value for Sathiavani Muthu Street

Sathiavani Muthu Street guideline value

The current guideline value of Sathiavani Muthu Street is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Theerthangiriyampattu village and falls under the Redhills SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Sathiavani Muthu Street has changed

The guideline value of Sathiavani Muthu Street has seen several revisions over the years. In 2007, the value was Rs 732 per sq.ft, which increased to Rs 800 per sq.ft in 2012. However, it then decreased to Rs 536 per sq.ft in 2017. Following this, the value significantly rose to Rs 800 per sq.ft in 2023, and then to Rs 880 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Between the 2017 and 2023 revisions, there was a notable increase of 49%. The change from 2012 to 2017 was a decrease of 33%, while the increase from 2007 to 2012 was 9%. Overall, from 2007 to 2024, the guideline value has increased by 20%. There are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Theerthangiriyampattu

In Theerthangiriyampattu village, there are 24 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 330 to Rs 880 per sq.ft. The median value for these streets is Rs 605 per sq.ft, placing Sathiavani Muthu Street above this median.

• Sothupakkam Salai: Rs 770 per sq.ft (2024)
• Poovai Moorthiyar Street: Rs 330 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 770 per sq.ft (2024)
• Thargass Road: Rs 770 per sq.ft (2024)
• Paramanandam Nagar: Rs 330 per sq.ft (2024)
• Thiruvalluvar Street: Rs 605 per sq.ft (2024)

Stamp duty and registration fee for property in Sathiavani Muthu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total fees together to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Sathiavani Muthu Street?

The Sub Registrar Office that covers Sathiavani Muthu Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Theerthangiriyampattu

The guideline value plays a crucial role when buying or selling property in Theerthangiriyampattu. It is used to determine the stamp duty and registration fees payable at the time of registration. Buyers should be aware that the guideline value may differ from the actual sale price of the property.

When registering a property, the authorities will assess the guideline value to ensure that the correct fees are collected. This ensures transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Sathiavani Muthu Street?

The current guideline value of Sathiavani Muthu Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 732 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, with several revisions in between, including a notable increase of 49% from 2017 to 2023.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which Sub Registrar Office is responsible for Sathiavani Muthu Street?

The Redhills Sub Registrar Office is responsible for Sathiavani Muthu Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification for Sathiavani Muthu Street?

The land classification for Sathiavani Muthu Street is Commercial Class I Type - I, indicating its suitability for commercial activities.